Omaha daily bee., 1887-09-08
ALL THE WORLDS MONEY.
Figures From Uncle SANS Mint and
From Mint's Elsewhere.

Figures From Uncle SANS Mint and
From Mint's Elsewhere.
No economic discussion has caused the
shedding of more ink in recent years than
the disputes that have taken place over
the currency. Gold, silver and paper
have each a special school of champions
who are ready to follow their favorite to
the last extremity. There is also Il fourth
and apparently growing class, who be-
licve more in bank checks, bulls of cx-
change, and other agencies of a system
OF perfected barter than in any kind of
money that was ever invented. But
barter, unfortunately, is continually
reaching chasms and pitfalls which only
a stamped currency, or currency with
some generally accepted endorsement,
can bridge. Its operations cannot be
made continuous. 1t is true,
however, that were there no rogues
in the world we could get
along with very little money. The more
numerals on piece of blank paper, with
the giver's endorsement, could be made
to indicate the extent of service rendered
aud the holders claims upon the market.
Something of this idea Unjust lie at the
foundation of those Pennsylvania store
orders of which we have heard With
universal confidence and banking sys-
tenn which could be made 10 reach every
hamlet, there would be little use for
money even for the payment of weekly
wages and current household expenses.
But the rOgues who would use checks and
can write a clerky hand of their own are
perpetually heading off the millennium
and compelling us to avail ourselves of
elaborate and complicated devices.
AS the world runs, it takes great deal
of money to make the universal mare go.
Exclusive OF China, country which
seems to be an unknown quantity in the
problem of terrestrial life, the total me.
tallic and paper currency in the world is
estimated at about $4,000, 900, 900. OF
this total, something more than
81 ,950, 900, 900 is found in natural treas
uries and banks, and over :, 1000, 100000 in
active circulation. 1t will be worth while
TO trace some of this currency through a
few of the leading nations of the globe,
and to observe its effect on industrial and
mercantile conditions. To this end the
report of the director of the United States
mint for the year for 1884 will be used,
the figures for that year being fnllcr than
the figures for the current year and Just
as suggestive. Changes there have been,
| but they do not materially modify pro
portions nor place the subject in any ne
| light.
France leads the world in the amount
| OF her metallic and paper currency. 1t
! reached in 1884 the enormous total of
| 81 800, SCI ,9l2, or nearly one-tfth the
entire reported currency circulation of
the world. OF this total SlO2, ,039, S54 was
reported in the national treasury, or IN
the banks, and 81 ,5SS, ,022. l5S III active
circulation. This made the active clrcu-
| lation $44.55 per capita. The United
States followed with total circulation
of 81, 1l5, 5,926,775, Il total IN reserve of
| $53i, ,022 .01s and an active circulation O I
| $l,yll, ,S03GSl. This came closely on the
| heels OF France; but on account of the
greater population of the United States
| their per capita of active circulation fell
to $2l l6 not much more than nalf that
! of France. England, or Great Britain
of $S61, ,3lS, 1904 total in the treasury and
banks of Sl5i, lS2, 69l, and an active cir
euiation OF $722, 135, AS the latter amount
giving but S20.4i per capita. The total OF
Germany fell but little below that of
| England, and the German per capita was
only Sl4.23. There was no peculiar
significance in the figures frem the re-
may be observed generally that the
larger the total the larger, also, the
amount found in reserve. This rule did
not quite hold good between Franco and
the United States, the greater use of the
check system in this country seeming to
retire great deal of money which is
demanded by the French methods of ex-
change. But the total not in active
circulation in England is but little more
than one-tnird the total in France. In
Germany it is considerably less than one,
half that of France, and in Russia less
than one third. In all other countries in
Europe it Is Il bagatelle, falling below
800, 900, 900 at the highest.
1t will be observed from these figures
that the country with the largest volume
of currency is not the richest nor mos,
prosperous country. The total of ex-
change IN the United States In any one
year is at least one-third greater than the
total in France, yet in involves the use of
a much smaller volume of currency. The
estimates of circulation for the current
year are for France n triie more than S5C
per capita, and for the United States
about $50 per capita. Yet We are build
ing about two-thirds as many miles OF
railroad this year rs France has built in
fifty years, and are carrying on many
kns t.t.s lt,,.